Addendum to the Notice of 47th Annual General Meeting dated of Centrum Capital Limited
CENTRUM · price
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Centrum Capital has added a new item (Item No. 13) to the notice of its 47th AGM (scheduled for August 8, 2025) seeking shareholder approval for a preferential issue of up to 5,01,91,537 equity shares at Rs. 34.38 per share (face value Re. 1 + premium of Rs. 33.38), aggregating to roughly Rs. 172.56 crore. The shares are proposed to be allotted to 55 non-promoter allottees, including several Alternative Investment Funds (Negen Undiscovered Value Fund, Prisach Consultants, Kitara India Growth Fund, Neo Special Credit Opportunities Fund, etc.) and HNIs. The proceeds are earmarked for repayment of the company's own debt (Rs. 80 crore), repayment of subsidiary debt (Rs. 52 crore), and general corporate purposes (Rs. 40.56 crore), to be utilised within 12–24 months. The company has appointed Brickwork Ratings as the monitoring agency and the issue is priced per a valuation report by registered valuer Kalyanam Bhaskar, with a relevant date of July 9, 2025. This follows a Rs. 200 crore warrant issue to promoter-group entity JBCG Advisory Services approved via postal ballot on June 25, 2025.
Existing shareholders will face a dilution of approximately 10.95% as the post-issue non-promoter holding rises to about 62% (excluding warrant conversion). The fund raise is aimed at de-leeveraging the group ahead of sizeable near-term debt maturities, which is positive for balance-sheet health, though the dilutive nature may weigh on sentiment in the short term.